The scale of mutually-beneficial trading links between Ireland and Britain will survive the "divergence" of Ireland's participation in Economic and Monetary Union from the outset, according to the President, Mrs McAleese.
Launching the British Irish Business Network, which aims to increase trade and business between the two countries, at a breakfast in London's Dorchester Hotel yesterday, she said while Ireland's international trade had expanded vastly in recent years, "trade with Britain still occupies pride of place, accounting for a quarter of the total".
She said that, more surprisingly for some, Ireland was now Britain's fifth largest customer. "Every so often it is worth reminding ourselves of the extent of our inter-dependence and the solidity of the partnership we have enjoyed for generations."
Mrs McAleese said the deferral of a UK decision on EMU would spell challenges for Ireland in the absence of her largest trading partner. "However, we are confident that we can meet those challenges and that EMU membership will be of advantage to our economic wellbeing."
Speaking later to journalists, Mrs McAleese said there was "a righteous pride" at the extraordinary performance of the Irish economy in recent years. But she thought it would be wrong to interpret Irish enthusiasm for Europe as an expression of nationalism.
"I don't see it in any sense as an expression of nationalism . . . I would not like it to be seen in any shape or form as diminishing the role of the long-term economic partnership that has existed between Britain and Ireland, and that partnership that we are both going to need for the future."
She said Ireland's success brought with it important questions about society. "Do we want a country simply led by a dynamic of greed? I think that would be anathema to the Irish character and the kind of culture and values we come from."